Welcome to Chris Brady's Blog

"The only way to be happy, is to give happy."

Recent Posts:

Private Property is the Enemy of the Welfare State

June 14, 2009

Debasing currency has long been the craft of governments everywhere. By this method governments expand the money supply for their own immediate use, and thereby drive down the value of the currency in the hands of their constituents. This results in an invisible tax called inflation. This requires no vote or debate and happens quite invisibly. In fact, many people are falsely led to believe that inflation is rising prices. This is the effect of inflation, not inflation itself. Inflation itself is an increase in the money supply without any corresponding increase in value. People are also misled into believing that inflation over time is natural and unavoidable. This is also untrue.

I have written of this before, but I can't help quoting Alan Greenspan from an article he wrote in 1966 before he became Chairman of the Federal Reserve. In this very revealing and honest assessment, Greenspan wrote of the consequences of this process of debasing currency:

"The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit . . . In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold . . . The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.

This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the 'hidden' confiscation of wealth."

And don't let the term 'wealth' throw you, should you happen to think it doesn't include you; it does. Inflation affects every person that holds even one penny of currency. Inflation is the planned reduction of spending power of every penny in the hands of anyone and everyone (except the government, that is, who can just 'print' more for itself).

Remember: Private property is the enemy of the welfare state.

Posted in Politics

6 responses to “Private Property is the Enemy of the Welfare State”

Cathy – Team Rascals

June 14, 2009

Chris,
This is a great post. I am always educated by your posts on government and the economy, far beyond what my Social Sciences degree offered me.
However, for some unknown reason, Mr. Greenspan’s quote didn’t get picked up and published, at least to me, completely. I get the following:
“The abandonment of the gold standard made it pos
This is the shabby secret of the welfare statists’ tira”
The odd thing was, when I was attempting to copy/paste to you what I am seeing, it gave me the whole thing. Yet I still can’t see it, beyond what I just gave you, in your blog entry!
Could you please check on this, and make sure we can all read the quote? Thanks so much!!

LikeLike

Reply
Phyllis Hoff

June 14, 2009

Chris:
Wow! You must be writing night and day, as each one of these posts in the past week has been better than the prior one. Such insight.
We could be in a period of hyperinflation, when the government does not control the printing of money. This can break down the entire economic structure of a nation. The savings of a lifetime can vanish overnight.
This is my fear.

LikeLike

Reply
John Dickinson – Team One Purpose!

June 14, 2009

Chris,
I remember reading that essay by Alan Greenspan a few weeks ago.
I am trying to think of a way that I can personally help to cancel or reverse the effect of inflation directly. The only solution so far I can come up with is to educate people I know about the truth of inflation which would in turn indirectly cancel inflation in the long term. Do you have any other ideas on how inflation can be avoided?
My short term solution is to create wealth that outpaces inflation for me and the people I know.
Thanks,
John

LikeLike

Reply
Seande Parker – Team One Purpose

June 14, 2009

Life and Liberty are secure only so long as the right of property is secure.-Founding Fathers Principles

LikeLike

Reply
Abraham

June 14, 2009

How is it that the gov’t can do such things to its people…? I am trully beside myself when I hear of such things. I cannot believe we are where we are as a country, as a people. Such evil spilling over out of man’s heart. Why won’t the people see such things? How is it to be change? Who is to lead the truth seekers? Thanks be to God for His provision and for the likes of you and the PC! His design at work is a great thing to witness. We see His purpose in your work and that of the other leaders. We greatly anticipate joining you all on the stages of this world proclaiming the truth. God bless…r3

LikeLike

Reply
Cathy – Team Rascals

June 15, 2009

“Property is the fruit of labor – property is desirable – is a positive good in the world. That some should be rich, shows that others may become rich, and hence is just encouragement to industry and enterprise.” ~ Abraham Lincoln, in a speech in 1864.
“Without that sense of security which property gives, the land would still be uncultivated.” ~ Francois Quesnay in “Maximes”
“Give a man the secure possession of a bleak rock, and he will turn it into a garden; give him a nine years’ lease of a garden, and he will convert it into a desert . . . The magic of property turns sand into gold.” ~ Arthur Young, in “Travels In France”

LikeLike

Reply